Matthew Hines Mortgage Agent

03/01/2023

➡Private 1st & 2nd Mortgages Starting @ 4.99%⬅

✅FLEXIBLE QUALIFYING
✅NO LAWYER/LEGAL FEES
✅FREE APPRAISAL
✅SAVE THOUSANDS IN FEES
✅FULLY TRANSPARENT

👉MINIMUM $5,000 - MAXIMUM $200,000👈

Give us a call before you break your Low Rate Mortgage.

Use the funds for:

👉 Income Tax Arrears
👉Property Tax Arrears
👉Pay Off High Interest Credit Cards
👉Consolidate Debt
👉Emergency Fund
👉Childs Tuition
👉Renovations
👉and more.

Contact me today to learn more 416-908-2070

Matthew Hines
Mortgage Agent, FSRA M09000211
Dominion Lending Centres Edge Financial
FSRA #10710

02/13/2023

➡️Join us tonight: First Time Home Buyer Seminar - This is an in person event.

➡️Come and learn how to set yourself up powerfully to buy your first home or Investment Property.

Register - Free - https://www.eventbrite.ca/e/why-now-is-a-good-time-to-buy-real-estate-tickets-530794459517

10/05/2022

How does life insurance work? Is it worth having? We have the answers to these questions and more, plus a breakdown of the different types of policies.

09/07/2022

🔥The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 75 basis points today to 3.25% and signalled that the policy rate would rise further.

Dr. Sherry Cooper - Chief Economist, Dominion Lending Centres - Says:

"Traders are now betting that another 50-bps rate hike is likely when the Governing Council meets again on October 25th. There is another meeting this year on December 6th. I expect the policy rate to end the year at 4%".

The Bank of Canada today increased its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%.

08/24/2022

Important News Effective January 1st, 2023:

The Prohibition on the Purchase of Residential Property by Non-Canadians Act received Royal Assent on June 23, 2022. The Act will come into force on January 1, 2023.

The Act prohibits foreign commercial enterprises and people who are neither Canadian citizens nor permanent residents from acquiring residential property in Canada for a period of two years. The Government announced this measure in Budget 2022 as part of a broader package of measures to improve housing affordability for Canadians.

Details of exceptions announced in Budget 2022, as well as certain definitions and clarifications to the Act, are being considered for Regulations, which the Government plans to bring forward prior to January 1, 2023.

"The Canada Mortgage and Housing Corporation (CMHC) is consulting with interested Canadians and stakeholders on policy proposals to include in the Regulations.

We invite you to read and comment on the policy proposals on the CMHC website (https://bit.ly/3wryMZl), which will be open for comment until September 16, 2022. Your feedback is very important as we work to finalize the Regulations. "

07/14/2022

🎯Interest rates are still rising, but investors should start preparing for when they come back down

There is a general view that the increases typically start too late, and so rates are still rising after the economy is already slowing. Once they really start to take effect, the impact can be too much, and the central bank has to do a quick about-face.

Variable rates will likely be a benefit once again in the midterm. Read more

07/13/2022

Bank of Canada increases policy interest rate by 100 basis points, continues quantitative tightening.

Consumers can expect to see today's 1% hike phased in shortly, bringing the Bank Prime Rate to 4.7% from the previous 3.7%. That's going to drive five-year variable interest rates for “A” borrowers from their current range of 2.5 – 3.4% to 3.5 – 4.75%. And HELOCs to increase to 5.25%.

The Bank of Canada today increased its target for the overnight rate to 2½%, with the Bank Rate at 2¾% and the deposit rate at 2½%.

07/12/2022

Markets and economists alike overwhelmingly expect the Bank of Canada to lift its policy rate by 75 basis points when it meets this Wednesday.

If it does, it would be the BoC’s largest rate hike since 1998.

That would take the Bank’s target overnight rate to 2.25%, and implies a prime rate (upon which variable-rate mortgages and lines of credit are priced) of 4.45%. The last time Canadians saw a prime rate above 4% was back in 2008.

Markets and economists alike overwhelmingly expect the Bank of Canada to lift its policy rate by 75 basis points when it meets this Wednesday.

07/12/2022

Retirement may no longer be the end goal it once was for a growing number of older workers. Read more.

06/07/2022

🇨🇦 New to Canada Mortgage? 🇨🇦

If you are already a Permanent Resident or have received confirmation of Permanent Resident Status, you are eligible for a typical mortgage with a 5% down payment - assuming you have good credit.

If you have limited credit, or have not yet qualified for Permanent Residency, there are still options! In fact, there are several ‘New to Canada’ mortgage programs through CMHC, Sagen™ and Canada Guaranty Mortgage Insurance. Please note, for these programs you will typically require a valid work permit is valid up to 3 months post-purchase date.

To qualify for these New to Canada programs, you must have immigrated or relocated to Canada within the last 60 months and have had three months minimum full-time employment in Canada.

For 90% credit, a letter of reference from a recognized financial institution OR six (6) months of bank statements from a primary account will be required.

If you are seeking credit of 90.01% to 95% you need an international credit report (i.e: Equifax) demonstrating a strong credit profile OR two alternative sources of credit (i.e.: hydro/utilities, telephone, cable, cell phone or auto insurance) demonstrating timely payments (no arrears) for the past 12 months
Depending on your residency status and credit history, another option are alternative or private lenders as well who can fund your mortgage.

If you are unsure of your options or want to make sure you get the best mortgage product possible, please don't hesitate to contact me. As a dedicated mortgage professional, I have access to dozens of lender options, which will allow me to find you the best options. I would love to set up a virtual appointment to discuss your financial history, goals and the mortgage process.

Matthew Hines
Mortgage Agent
M09000211
416-908-2070

06/02/2022

🔥 ADVISORY 🔥 - New changes made to CMHC’s First Time Home Buyer Incentive program by Federal Government.

The Government of Canada has introduced appreciation and depreciation limits to the program. These “8% caps” are now in effect.

The Government of Canada is now limiting its share in either the appreciation or depreciation of a home at the time of FTHBI repayment. As explained by CMHC, this will be up to a maximum gain or loss of 8% [eight] per annum (not compounded) on the Incentive amount from the date of advance to the time of repayment

In the case of appreciation, the above Incentive repayment calculation is retroactive to the implementation date of the First-Time Home Buyer Incentive (September 2, 2019).

In the case of depreciation, the above Incentive repayment calculation applies to all borrowers who have signed a shared equity mortgage agreement on or after June 1, 2022.

Full information about these changes and about the FTHBI program itself can be found on the CMHC website.

https://www.placetocallhome.ca/fthbi/first-time-homebuyer-incentive

Call/Text/Message Matthew 416-908-2070 for more information.

Matthew Hines
Mortgage Agent

Learn how to get an additional 5 or 10% to add to your down payment on your first home.

04/25/2022

🔥Join us for a special webinar tonight for a discussion on how you can get multiple streams of income. 🔥 Message me for the link to Webinar.

Matthew